California-based TripActions, a fast-growing corporate travel management firm, is taking more than 88,490 square feet of office space in the Renaissance Tower at 1201 Elm St. Whitebox Real Estate identified an ideal space—recently white-boxed—located on the top 3 floors of a trophy Downtown building and negotiated a flexible lease with a below-market rate and numerous concessions.
Per the Dallas Morning News' article, the signed office deal is one of the largest lease transactions in downtown Dallas completed in 2019 and will bring hundreds of new workers to the building.
WestMark is a perfect example of the type of strong independent brokerage firm TCN attracts and the power of that independence coupled with TCN’s national and international presence. WestMark was selected to join TCN in early 2019 and hit the ground running…attending every meeting, dialing in for specialty group calls, keeping TCN in front of its agents at sales meetings, and sharing the TCN story and the scope of the organization with clients. Congratulations and Thank You to WestMark Commercial in Lubbock, Texas for sharing these recent successes.
Triumph Bell West Ranch, a 20,225 square foot shopping center at 16846 W. Bell Road in Surprise, AZ, was purchased in 2016 for $3,985,000. The property, which was 93.2% leased at the time of the sale, included several outstanding tenants, including Pizza Hut, Orange Theory, Musical Surprise and Mule Creek Saloon. Jon Rosenberg and his team at Levrose Commercial Real Estate/TCN Worldwide in Phoenix worked with Triumph to acquire the property in 2016, managed the leasing of vacancies, and negotiated the disposition of this property.
“We are very pleased with this disposition as it reflects great returns for our Investors,” said David Wallach, President and Founder of Triumph Real Estate Investment Fund.
TCN UAE was selected to join TCN Worldwide in late 2018 and has experienced substantial growth in the last year. With an executive team that includes former senior employees of market-leading developers in the GCC, it’s a perfect fit that TCN UAE and partner, Harmen de Jong would lead the way in forming a TCN GCC alliance.
Richard Bowers & Co. in Atlanta represented 119 separate sellers. “Many people ask how hard is it to do a condominium Buyout or Assemblage with 119 separate Sellers? The answer is, harder than you could ever imagine!”
In 2014 Richard Bowers & Co. (RBC) presented the option of representing the unit owners (Sellers) of the 55 Pharr Condominium and facilitating the assemblage and sale on their behalf. One Seller stated they have attempted to assemble 55 Pharr for the past 18 years. RBC referred & introduced the appropriate attorneys who represented the Sellers & their HOA on several different topics and issues throughout the sales process. Through RBC’s marketing efforts, we were able to bring a total of 17 offers from qualified Developers, in which we presented to the group of Sellers.
The 174,622 SF office building was one of the few remaining “value-add” opportunities left in the Denver Metropolitan area. With only 76% occupancy at the time of the sale, this vacancy allows investors the opportunity to create value through immediate lease-up, while simultaneously collecting current cash-flow.
“We’re the best at finding the right fit for these deals. That’s why the sellers came to us,” said Lippitt, noting the company has a global reach through its TCN network in addition to more than 40 years in the local commercial real estate market."